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After months-long crises, Pakistan’s car industry seems to be reviving. The local car makers have commenced producing hybrid electric vehicles (HEVs) and electric vehicles (EVs). Interestingly, the market has also welcomed some of them, including locally assembled Haval HEVs (Jolion, H6), Corolla Cross, and EVs like Honri Ve and Series 3.
The Details
In a recent update, world’s top New Energy Vehicle (NEV) manufacturer, BYD, has officially joins the league of players producing EVs in Pakistan. The EV giant has signed a new venture with Hub Power Holdings Limited, a subsidiary of The Hub Power Company Limited.
In a notice to Pakistan Stock Exchange, the company informed the update narrating that the said development will move forward via its associated company, Mega Motor Company Private Ltd.
The completion of this new venture will involve finalizing definitive agreements and purchasing assets, subject to obtaining necessary corporate and regulatory approvals and consents, it added.
Earlier in this March, we informed you that BYD has signifies another milestone, representing its entry into one of South Asia’s largest markets, as the brand continues to bring innovative and accessible eco-friendly solutions to global consumers.
The signing ceremony took place during the BYD Asia Pacific Dealer Conference event in Xi’an, China, in the presence of Liu Xueliang, General Manager of BYD Asia Pacific Auto Sales Division; Zhang Jie, Vice General Manager of BYD Asia Pacific Auto Sales Division and Aly Khan, Executive Director of Mega.
Mr. Liu Xueliang, General Manager of BYD Asia Pacific Auto Sales Division, welcomed Mega to the BYD family and said: “In 2023, BYD’s annual sales of New Energy Vehicle (BEV+PHEV) exceeded 3 million units, underlining its position as the global leader and champion of new energy vehicle sales for the second year in a row.”
What do you think about the recent development of entering BYD in national EVs industry. Drop your thoughts in the comments section.
